Following Syntimmune buyout, Alexion antes up $25M to double down on anti-FcRn pathway
Last September, Alexion wagered $1.2 billion — $400 million of it upfront — on little biotech Syntimmune to get its hands on a drug targeting IgG-mediated autoimmune diseases. Six months later, the rare disease player is adding a second anti-FcRn asset to its portfolio through a partnership with Sweden’s Affibody.
Alexion will now lead the joint development of a Phase I antibody-mimetic dubbed ABY-039, which blocks the neonatal Fc receptor — a normally helpful enabler of Immunoglobulin G that can however aggravate disease when IgG goes rogue. In addition to a $25 million upfront payment, Affibody is entitled to a maximum of $625 million in milestones and royalties as well as an option to co-promote in the US.
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